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AUSTIN, Texas – A former Austin ISD campus that closed years ago is being transformed into affordable housing, with a groundbreaking celebration held on Friday.\u00a0<\/p>\n
The school-to-housing redevelopment is officially underway at the former Anita Ferrales Coy School grounds in East Austin.\u00a0<\/p>\n
The backstory:<\/p>\n
“This is going to be a multi-phase redevelopment. In total, we’re going to have 675 units, half of which will be rent- and income-restricted at workforce levels,” a project spokesperson said.<\/p>\n
The redevelopment project aims to help address Austin\u2019s ongoing affordable housing crisis. The development will prioritize housing for low-income families and essential workers, including Austin ISD teachers and staff, officials said.<\/p>\n
“This groundbreaking is proof that progress doesn’t always require more. Sometimes it just requires using what we already have wisely and daring to think creatively,” Council Member Jose Vel\u00e1squez said. “Preserving a historic school within the AISD community and turning it into homes for the very people who serve this city.”<\/p>\n
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Austin ISD is working with companies, including Goldman Sachs and Clarion Partners,\u00a0to make the redevelopment a reality.<\/p>\n
“The great people that power the city of Austin deserve great places to live. Our teachers, our bus drivers, our construction workers, deserve great places to live,” said Asahi Pompey of Goldman Sachs.<\/p>\n
Instead of selling the land, AISD decided to lease it to the NRP Group, creating a stable revenue stream for the district while facilitating rent-and income-restricted units.<\/p>\n
“This is a really, really unique public-private partnership. This is a site that, since the 1950s, has served as a community asset.”<\/p>\n
Plans for the property include amenities such as a resort-style pool, a co-working lounge, a fitness center, and art installations created by local artists.<\/p>\n
“We think the preserved green space and the thoughtful design will speak to a vision that respects the site’s past while investing in the future for its residents,” said Jason Glasser of Clarion Partners.<\/p>\n
What they’re saying:<\/p>\n
“Austin ISD educators and staff are facing historic affordability pressures, with rising housing costs forcing many to live far from the students and campuses they serve,” said Matias Segura, Superintendent of Austin ISD. “Two\u2011thirds of AISD employees identify as cost\u2011burdened, and our district has seen the impact on our ability to attract and retain talent. The Anita Coy redevelopment represents a bold, unique solution that will bring stability and wellbeing to the entire district, and serves as a blueprint for how school districts can use their physical assets to invest in their teams and uplift neighboring communities moving forward.”\u00a0<\/p>\n
“As a native East Austinite, I applaud this milestone project and the partnership between AISD and The NRP Group. I value the commitment to placekeeping and recognition of the importance of cultural preservation and representation in the design of this new housing development,” said Jos\u00e9 Vel\u00e1squez, Austin CIty Council Member, District 3.<\/p>\n
What’s next:<\/p>\n
The first 341 units are under construction.\u00a0<\/p>\n
The second phase of the project is expected to start later this year.<\/p>\n
The Source: Information from interviews conducted by FOX 7 Austin’s Katie Pratt<\/p>\n
Austin<\/a>Education<\/a>Homeless Crisis<\/a>East Austin<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"AUSTIN, Texas – A former Austin ISD campus that closed years ago is being transformed into affordable housing,…\n","protected":false},"author":2,"featured_media":184135,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[132,134,133,2924,163,26704,223,394,216,393],"class_list":["post-184134","post","type-post","status-publish","format-standard","has-post-thumbnail","category-austin","tag-austin","tag-austin-headlines","tag-austin-news","tag-east-austin","tag-education","tag-homeless-crisis","tag-news","tag-travis-county","tag-tx","tag-us"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/184134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/comments?post=184134"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/posts\/184134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media\/184135"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/media?parent=184134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/categories?post=184134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-tx\/wp-json\/wp\/v2\/tags?post=184134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}